Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0419%/8h= +45.9% APRpaid last 24h +0.052%

Price spread now: Hyperliquid against SunX+0.002%7-day average −0.012% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 3 days (all we have)−0.051%−$5 · spread now +0.002%, 7d avg −0.012%

Together, before fees−0.030%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.012%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.021% in total (about 1.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX LINK-USDT	13.004	0.0100	pay 0.0100% / 8h	6h 51m	$33K	$1.5M	30x
Short	Hyperliquid LINK	13.004	0.0519	get 0.0065% / 1h	51m 52s	$79.8M	$29.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against SunX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee SunXbpFee HyperliquidbpOrdersPrice spread, now +0.002%Rate

Funding earned: $88.07
Price spread: +0.002% → −0.012%: $1.46
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $72.53
Costs to cover: 0.170%
Break-even: 1.2 days

Slippage unknown: SunX: live order book, 3 min ago; Hyperliquid: live order book, 12 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy SunX live order book, 3 min ago	500.03 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 12 min ago	0.38 bp	4.9 bp −$5	9.7 bp −$97	doesn't fit	doesn't fit

LINK on 40 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
ApeX Omni LINKUSDT	−0.0265%	1h	13.058	+0.418%	$152K	$670K	50x	as long as short
GMX LINK/USD [LINK-USDC]	L −0.0091% / S +0.0167%	1h	12.986	−0.135%	$1.8M	—	200x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	12.992	−0.090%	$462K	$2.3M	3.7x	as long as short
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0008%	1h	12.985	−0.145%	$150K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−4.643%	$4K	$48K	12x	as long as short
dYdX LINK-USD	+0.0046%	1h	13.000	−0.025%	$344K	$48K	10x	as long as short
Phoenix LINK	+0.0049%	1h	12.998	−0.048%	$3K	$86K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0070%	8h	12.983	−0.159%	$124K	$1.5M	20x	as long as short
Coinbase International LINK-PERP-INTX	+0.0072%	1h	13.003	−0.005%	$955K	$2.7M	50x	as long as short
Deribit LINK_USDC-PERPETUAL	+0.0073%	1h	12.994	−0.076%	$772K	$212K	50x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter LINK	+0.0096%	1h	12.993	−0.086%	$1.9M	$2.7M	10x	as long as short
Paradex LINK-USD-PERP	+0.0099%	8h	13.058	+0.415%	$31K	$2K	20x	as long as short
Nado LINK-PERP	+0.0100%	1h	12.998	−0.040%	$397K	$308K	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	12.993	−0.083%	$1.3M	$3.0M	50x	as long as short
Pacifica LINK	+0.0100%	1h	12.999	−0.033%	$272K	$156K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	12.996	−0.056%	$120.8M	$301.7M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	12.992	−0.090%	$83.7M	$71.6M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	12.992	−0.090%	$27.3M	$83.8M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.007	+0.025%	$182K	$168K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	12.996	−0.059%	$128.7M	$12.3M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	12.995	−0.067%	$36.2M	$57.7M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	12.996	−0.059%	$22.6M	$14.6M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	12.991	−0.098%	$53.8M	$30.6M	75x	as long as short
BingX LINK-USDT	+0.0100%	8h	12.997	−0.052%	—	$22.7M	—	as long as short
Backpack LINK_USDC_PERP	+0.0100%	1h	13.004	+0.002%	$342K	$388K	15x	as long as short
Variational Omni LINK	+0.0100%	8h	13.000	−0.025%	$3.4M	$1.6M	—	as long as short
edgeX LINKUSDC	+0.0100%	4h	13.054	+0.389%	$43K	$308K	20x	as long as short
GRVT LINK_USDT_Perp	+0.0100%	8h	13.003	−0.009%	$586K	$2.6M	10x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.008	+0.033%	$81K	$70K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	12.986	−0.137%	$16K	$22K	10x	as long as short
SunX LINK-USDTlong	+0.0100%	8h	13.004	long leg	$33K	$1.5M	30x
SoDEX LINK-USD	+0.0100%	1h	12.992	−0.090%	$24K	$37K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	12.982	−0.165%	$640K	$870K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	12.988	−0.119%	$660K	$1.9M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	12.990	−0.104%	$545K	$2K	3x	as long as short
BloFin LINK-USDT	+0.0220%	8h	12.978	−0.198%	$5.3M	$15.5M	75x	as long as short
Reya LINKRUSDPERP	+0.0383%	1h	12.993	−0.085%	$4K	—	20x	as long as short
Kraken Futures PF_LINKUSD	+0.0502%	1h	12.998	−0.046%	$6.8M	$8.1M	50x	as long as short
Hyperliquid LINKshort	+0.0519%	1h	13.004	+0.002%	$79.8M	$29.6M	10x
Phemex LINKUSDT	+0.0671%	8h	13.012	+0.064%	$20.1M	$11.5M	50x	as long as short